Robinhood has finally added the Shiba Inu (SHIB) to its roster. Despite the market-wide correction, the impact of the news on the price was more than 15%. So how long can this doping continue?
Shiba Inu finally added to Robinhood roster, how high will the price go?
The Shiba Inu community and investors have long pressed for SHIB to be included in Robinhood. Although SHIB often comes up with the news that it will be listed on the platform, it has been unlisted so far. When it comes to SHIB investors, a Robinhood listing is a goldmine with the potential to raise the price. SHIB will have access to the platform’s 22 million verified users as a result of the Robinhood IPO. As a result, its price may increase as more investors become interested in purchasing SHIB. A rumor that only Shiba was listed on Robinhood has resulted in a 16% price increase in the past.
SHIB rose 17% after the announcement
SHIB The announcement of Robinhood listing on Robinhood seems to have had a positive impact on SHIB. Exactly how long this rally will last and how high the price will ultimately rise are the most important questions. SHIB’s huge market cap has caused many experts to reject a rise in its price. However, the recent burning of millions of tokens by the project has reduced the available supply and therefore increased the price. It’s too early to tell if this will work. But Robinhood has 22.5 million monthly active users. The price of Shib could see a spike as it reaches a large number of investors, especially since it has one of the strongest communities.
Robinhood’s Shiba listing includes three more cryptocurrencies Solana (SOL), Polygon (MATIC), and Compound (COMP). A press release on token selection stated:
As a security-first company, we have a rigorous framework to help us evaluate cryptocurrencies for listing…While the buy and sell functions are enabled, users can purchase newly added tokens. will not be able to deposit or withdraw immediately.
The listing comes just after Robinhood announced last week that it had activated crypto wallets for 2 million “eligible” customers, thereby increasing the investment app’s capacity for crypto transfers.
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